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Internal innovation will never be profitable. If you have a good idea, are you rushing to work for Twitter for $150k/year? No. Is anyone you hire likely to have
by skippyboxedhero 4y ago
Internal innovation will never be profitable. If you have a good idea, are you rushing to work for Twitter for $150k/year? No. Is anyone you hire likely to have an especially good idea? No, all the people with good ideas are self-employed...because they know the value of good ideas.
It is far better to milk your cash cow, and invest in acquisitions where possible (now, almost impossible legally...so the only component of the strategy should be: milk cash cow, return excess value to shareholders).
- Kon-Peki 4y agoI’m not sure I agree with your first paragraph, but the second…. That’s pretty good. If you’ve already extracted (milked) a billion dollars or more from the business, why do you care if you wake up one morning and your business is the next MySpace? That’s the employee’s problem, not yours. Sell the business to someone who hasn’t yet realized it has turned into MySpace, and move on to the next idea you’ve got. Or retire. Whatever you want.
- nmfisher 4y agoThat seems to be Jack Dorsey to a T. Pretty clear he mentally checked out as Twitter CEO a decade ago. I probably would too.